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. >> susie: with all the slings and arrows on capitol hill this week abt the fiscal cliff, americans are finding little to laugh at. and tonight that's got lou thinking about having a sense of humor. here's author and educator lou heckler. >> because i use a lot of humorous stories in the speeches i give, i am often asked: what if you don't have much of a sense of humor? i think we all have the capability to enjoy humor. i also know lots of things get in the way: stressful and exacting jobs, maybe health problems you have or someone close to you has. those are real and they can be barriers. that said, i can't think of anything that keeps life in perspective more than cultivating and usina sense of humor. i remember my mother and dad saying this about someone they admired: he's cool, calm, and collected. i think those three apply to well-placed humor, too. cool brings a burst of fresh air into situations that can get overheated. calm: it's hard to be funny and angry at the same time. if you are both, that's sarcasm. collected: the shortest distance between two people is a smile. we co
. >> susie: with all the slings and arrows on capitol hill this week abt the fiscal cliff, americans are finding little to laugh at. and tonight that's got lou thinking about having a sense of humor. here's author and educator lou heckler. >> because i use a lot of humorous stories in the speeches i give, i am often asked: what if you don't have much of a sense of humor? i think we all have the capability to enjoy humor. i also know lots of things get in the way: stressful and...
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Dec 20, 2012
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. >> tom: if you're anxious about the fiscal cliff, you're not alone, still ahead, how some americans are cutting back, and how the cliff is impacting both investor and consumer behavior. stocks headed south on wall street as debate over the fiscal cliff heated up in washington. adding to those worries, word that fitch ratings repeated its threat to strip the u.s. of its triple "a" credit rating if we go over the cliff. the dow fell 99 points, the nasdaq lost 10, the s&p down 11. >> tom: u.b.s., the big swiss bank, is putting accusations of interest rate manipulation behind it. the bank will pay $1.5 billion to settle charges of rigging a key international lending rate. the u.s. justice department also filed criminal charges against two u.b.s. traders, and a unit of the bank itself. the agency calls the bank's conduct, "simply astonishing." >> hundreds of trillions of dollars in mortgages, student loans, credit card debt, financial derivatives and other financial products worldwide are tied to libor, which serves as the premier benchmark for short term interest rates. in short, the gl
. >> tom: if you're anxious about the fiscal cliff, you're not alone, still ahead, how some americans are cutting back, and how the cliff is impacting both investor and consumer behavior. stocks headed south on wall street as debate over the fiscal cliff heated up in washington. adding to those worries, word that fitch ratings repeated its threat to strip the u.s. of its triple "a" credit rating if we go over the cliff. the dow fell 99 points, the nasdaq lost 10, the s&p...
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Nov 23, 2012
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jeff applegate, chief investment officer. >> thank you, susie. >> tom: the fiscal cliff is an american invention politicians created hoping to force themselves to address the growing federal budget deficit. but it's something that could have ripple effects across the world. we spoke with to legendary global investor mark mobius. the world trade organization has done a hell of a good job in expanding the world trade globally. so many countries are members of the world trade organization that they expanded their exports and imports. if you have one major economy like the u.s. contracting to that degree, then of course it affects everyone. >> tom: is it the impact, to narrow it down a little bit, is it the impact that it has potentially on u.s. consumption? in other words, higher taxes or higher tax revenues coming from certain income levels mean u.s. consumers don't spend as much? is that the threat. >> the main threat is unemployment because despite the fact that bernanke had been pumping money through the system. >> the chairman of the federal reserve. >> if you're going over the fisca
jeff applegate, chief investment officer. >> thank you, susie. >> tom: the fiscal cliff is an american invention politicians created hoping to force themselves to address the growing federal budget deficit. but it's something that could have ripple effects across the world. we spoke with to legendary global investor mark mobius. the world trade organization has done a hell of a good job in expanding the world trade globally. so many countries are members of the world trade...
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Sep 12, 2012
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cliff." instead, he put the blame squarely on senate democrats and the president. >> i'm not confident at all. listen, the house has done its job on both the sequester and on the looming tax hikes that will cost our economy some 700,000 jobs. the senate at some point has to act. on both of these, where is the president? where is the leadership? absent without leave. >> sreenivasan: negotiations on avoiding the cuts are not expected until after the november elections. in the meantime, the moody's rating agency said today it will likely cut its triple-a credit rating on u.s. government bonds, if the budget talks fail. wall street managed to move ahead today, recouping some monday's losses. the dow jones industrial average gained 69 points to close at 13,232. the nasdaq rose half a point to close at 3104. those are some of the day's major stories. now, back to jeff. >> brown: and we head back to chicago, and the national spotlight focused on a teacher's strike in the nation's third largest schoo
cliff." instead, he put the blame squarely on senate democrats and the president. >> i'm not confident at all. listen, the house has done its job on both the sequester and on the looming tax hikes that will cost our economy some 700,000 jobs. the senate at some point has to act. on both of these, where is the president? where is the leadership? absent without leave. >> sreenivasan: negotiations on avoiding the cuts are not expected until after the november elections. in the...
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Dec 29, 2012
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that is a fiscal cliff area. >> closed american bond fundsaee leveraged and we think the dividends are going to be cut and there is a risk we would just avoid them. >> do you own any of theserecom? >> for our discretionaryaccounte closed end accounts and the herzfeld caribbean accounts olds all of the those we spoke of. >> susie: thank you very much tom. or our market monitor tomorrow herzfeld. ming up ononday on "n.b.r." wll bmoniringhoseiscal cliff negotiations, and we'll have news and analysis. we'll also a look back at the year in stocks, and s&p's sam stovall joins us to pre-view what's next for the markets in the year ahead. it could be one of the biggest trends in business next year: companies setting aside time for their employees to play. ruben ramirez explains. >> reporter: it may be hard to remember those hot summer days on the playground. the freedom to let your mind wander. how times have changed. as companies slashed jobs during the great recession worker productivity surged, today, many people are doing the job multiple people once did. >> i think our culture has gone in
that is a fiscal cliff area. >> closed american bond fundsaee leveraged and we think the dividends are going to be cut and there is a risk we would just avoid them. >> do you own any of theserecom? >> for our discretionaryaccounte closed end accounts and the herzfeld caribbean accounts olds all of the those we spoke of. >> susie: thank you very much tom. or our market monitor tomorrow herzfeld. ming up ononday on "n.b.r." wll bmoniringhoseiscal cliff...
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Nov 21, 2012
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he added avoiding a fiscal cliff is essential for the american economy. bernanke says a plan for resolving the nation's longer term budgetary issues without harming recovery could make 2013 a very good year for americans. japan's trade balance for october sank into the red for a fourth straight month. exports plunged due to slowdown in the global economy and tensions over disputed islands with china. finance ministry officials released preliminary figures shortly before the financial markets opened. last month's deficit came to about $6.7 billion. exports fell by 6.5% from a year earlier. that's in yen terms. japan's exports have fallen for five months in a row. cars and steal led the drop last month. imports also fell by 1.6% from a year earlier. now, by dtination europe tumbled by 20% as the region's debt crisis continues to dampen demand. exports to china fell by over 11.5% and anti-japan sentiment dented demand for japanese goods. now let's get a check on the markets. on the tokyo foreign exchange, the dollar is gaining ground against the yen hitting
he added avoiding a fiscal cliff is essential for the american economy. bernanke says a plan for resolving the nation's longer term budgetary issues without harming recovery could make 2013 a very good year for americans. japan's trade balance for october sank into the red for a fourth straight month. exports plunged due to slowdown in the global economy and tensions over disputed islands with china. finance ministry officials released preliminary figures shortly before the financial markets...
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Nov 6, 2012
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regarding the fiscal cliff threatening the u.s. he said american official leaders have promised to minimize the global consequences of official tightening. >>> president barack obama and mitt romney are making their final pitches before americans head to the polls. obama visited three swing states. he told a crowd in wisconsin that romney would resurrect the republican policies of four years ago and preserve tax cuts for the wealthy. >> it's a choice between returning to the top down policies that crashed our economy or a future that's built on providing opportunity to everybody and growing a strong middle class. >> romney also campaigned in swing states. he told an audience in florida that obama had failed to deliver on promises to reduce the economic burden on americans. >> tomorrow we begin a new tomorrow. tomorrow we begin a better tomorrow. this nation is going to begin to change for the better tomorrow. >> the latest poll from abc news and the washington post suggests 50% of likely voters will cast their ballots for obama. 47
regarding the fiscal cliff threatening the u.s. he said american official leaders have promised to minimize the global consequences of official tightening. >>> president barack obama and mitt romney are making their final pitches before americans head to the polls. obama visited three swing states. he told a crowd in wisconsin that romney would resurrect the republican policies of four years ago and preserve tax cuts for the wealthy. >> it's a choice between returning to the top...
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Nov 21, 2012
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cliff. >> susie: and hewlett packard stuns investors with news of an $9 billion mistake. >> tom: that and more tonight on nbr! >> susie: federal reserve chairman ben bernanke came to new york city today to send a tough message back to washington-- get your act together. he urged lawmakers and the white house to reach a quick deal to avoid the fiscal cliff, saying it might mean next year could be "a very good one for the economy." ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. > uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will be addressed appears already to be affecting private spending and investment dec
cliff. >> susie: and hewlett packard stuns investors with news of an $9 billion mistake. >> tom: that and more tonight on nbr! >> susie: federal reserve chairman ben bernanke came to new york city today to send a tough message back to washington-- get your act together. he urged lawmakers and the white house to reach a quick deal to avoid the fiscal cliff, saying it might mean next year could be "a very good one for the economy." ben bernanke didn't endorse any...
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Jan 3, 2013
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>> tom: a small deal to avoid the fiscal cliff brings a big rally to wall street. awaiting president obama's signature tonight is an agreement not to raise taxes on most americans. even though hard decisions on government spending cuts were put off, the deal over tax rates ushered in a 308 point rally for the dow jones industrial average. but as sylvia hall reports, the new session of congress beginning tomorrow faces some big decisions very soon. >> reporter: as americans return to work from the holidays, they might breathe a little easier knowing the fiscal cliff isn't happening. but the deal on the president's desk doesn't end the debate. in fact, it sets the stage for a bitter first quarter fight. the bill does add some certainty to this year's tax rates, by permanently extending bush-era tax cuts for people making less than $400,000 per year and couples making less than $450,000. it also staves off the sequester- that package of sharp federal spending cuts- for two months. but let's look at what the deal doesn't do. it doesn't take the sequester off the table
>> tom: a small deal to avoid the fiscal cliff brings a big rally to wall street. awaiting president obama's signature tonight is an agreement not to raise taxes on most americans. even though hard decisions on government spending cuts were put off, the deal over tax rates ushered in a 308 point rally for the dow jones industrial average. but as sylvia hall reports, the new session of congress beginning tomorrow faces some big decisions very soon. >> reporter: as americans return to...
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Dec 5, 2012
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we're very concerned about what the economic impact could be of going over the fiscal cliff. again, taxes going up on middle-class americans. some industry potentially coming to a standstill. so underlying everything else in our state is growth. if the economy is not growing, in fact, if it is contracting, it will be bad for tax receipts, and it will be bad because it means fewer people working. at's a critically important piece of it. the second thing is making sure as these negotiations take place, the impact on states, on local governments, on our citizens, is carefully considered. >> susie: governor markell, thec s thank you so muh for coming on the program. >> thank you. >> tom: from a governor's take, we now turn to the view from the private sector. some of the nation's leading c.e.o.s have banded together with deficit commission co- chairs erskine bowles and alan simpson to launch the "fix the debt" campaign. darren gersh spoke with maya macguineas, one of the organizers of the campaign. darren began by asking her if the business leaders are making a difference. >> i t
we're very concerned about what the economic impact could be of going over the fiscal cliff. again, taxes going up on middle-class americans. some industry potentially coming to a standstill. so underlying everything else in our state is growth. if the economy is not growing, in fact, if it is contracting, it will be bad for tax receipts, and it will be bad because it means fewer people working. at's a critically important piece of it. the second thing is making sure as these negotiations take...
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Aug 22, 2012
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as we continue our coverage of the economic impact of the fiscal cliff, we focus on the tax breaks that expire at the end of this year. darren gersh takes a look at what it all could mean for your paycheck. >> reporter: no matter who is elected in november, at least one tax break that's propping up spending looks likely to expire on january one: the payroll tax cut. that alone will take roughly $85 billion out of consumer wallets next year. >> i don't think either party feels like they're getting a lot of credit for it. a lot of the political debate is on income tax cuts that started back in 2001, and as result its just not getting a lot of attention. >> reporter: but congress is working to extend other, more popular tax breaks. the senate finance committee has already voted on a plan to extend the research and development tax credit and other breaks for business. the senate finance bill also tweaks the alternative minimum tax to make sure it doesn't snare millions of taxpayers. congress has often passed a.m.t. fixes like that at last-minute. >> i'm pretty sure one thing they'll deal wi
as we continue our coverage of the economic impact of the fiscal cliff, we focus on the tax breaks that expire at the end of this year. darren gersh takes a look at what it all could mean for your paycheck. >> reporter: no matter who is elected in november, at least one tax break that's propping up spending looks likely to expire on january one: the payroll tax cut. that alone will take roughly $85 billion out of consumer wallets next year. >> i don't think either party feels like...
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Nov 16, 2012
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. >> tom: the fiscal cliff is just one of the big uncertainties for american business leaders. for banking bosses, specifics of financial regulation also remain unknown. john kanas is the chairman and c.e.o. of bank united, a florida-based bank with $13 billion in assets. john welcome back to nbr good to see you again. >> good to see you. >> do new regulations mean theb. >> the new regula regulations a. the common thinking is that at it will be a catalyst toward driving consolidation in the industry. but frankly there has been a great deal of talk about consolidation and little consolidation. >> why is that?why that differe? >> the stock prices has a lot t. >> a lot of the smallerinstituts have grown to levels. and they have a new normal evaluation of banks. and that is changing slowly. and also, while regula regulatoe responsible for the extra costs they are not inviting consolidation either. >> right. >> because consolidation createe more complex and more difficult to regula regular regulate. >> is that impacting yourlendin? >> iit isn't for us.we were fors capital and be loc
. >> tom: the fiscal cliff is just one of the big uncertainties for american business leaders. for banking bosses, specifics of financial regulation also remain unknown. john kanas is the chairman and c.e.o. of bank united, a florida-based bank with $13 billion in assets. john welcome back to nbr good to see you again. >> good to see you. >> do new regulations mean theb. >> the new regula regulations a. the common thinking is that at it will be a catalyst toward driving...
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Nov 27, 2012
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about the fiscal cliff. and a new report from the white house added to the worries, showing that unless there's a deal on solving the crisis, the u.s. economy would suffer big time. the obama administration's economists estimate consumers would spend about $200 billion less next year than they would have otherwise. congress and the administration have only a few more weeks to nail down a deal. but that deal will have to address some tough issues, including entitlement reform. darren gersh explains. >> reporter: the big money in entitlements is in health care, and that means any grand bargain to avoid the fiscal cliff will slice away aone of the nation's most popular programs. >> medicare is clearly in the gunsights. >> reporter: it's possible congress and the president could agree to save $300 to $400 billion from medicare by cutting fees for doctors and hospitals. but analysts worry slashing payments won't make the health care system more efficient. >> this is not really a way to structurally change medicar
about the fiscal cliff. and a new report from the white house added to the worries, showing that unless there's a deal on solving the crisis, the u.s. economy would suffer big time. the obama administration's economists estimate consumers would spend about $200 billion less next year than they would have otherwise. congress and the administration have only a few more weeks to nail down a deal. but that deal will have to address some tough issues, including entitlement reform. darren gersh...
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Feb 16, 2013
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this is the spending part of the fiscal cliff. meantimecongress continues talking about the tax part of the fiscal cliff. this week, a house committee considered limits on tax deductions from charitable donations. american tax paypayers are estimated to have claimed $185 billion in charitable deductions last year. that's the most since before the great recession. there is no complete data for 2011 from the i.r.s. that money represents potentially billions of tax dollars if charitable deductions were limited or eliminated. andrew watt is the president and c.e.o. of the association of fundraising professionals. andrew you testified to that house committee. there already are limits to deducting charitable donations, correct? >> absolutely. >> tom: those limits are set by a percentage of taxable income. is there a better way to do it? >> no i think that's a pretty simple way of doing it and one most people understand. >> tom: it certainly has been the rule for the better part of a couple of generations for american taxpayers. but it b
this is the spending part of the fiscal cliff. meantimecongress continues talking about the tax part of the fiscal cliff. this week, a house committee considered limits on tax deductions from charitable donations. american tax paypayers are estimated to have claimed $185 billion in charitable deductions last year. that's the most since before the great recession. there is no complete data for 2011 from the i.r.s. that money represents potentially billions of tax dollars if charitable deductions...
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. >> susie: let me ask you about this, wall street has been so focused on the fiscal cliff situation, how important are these issues in europe for american investors? >> i think the issues in europe are important because they've been a pain in most investors' sides for the past couple of years. if you think about the end game in europe, which probably includes some type of fiscal integration, we realize it is going to take a long time. i believe that what you are seeing in europe is creating some volatility in the markets over the next couple of years to come. however, the last action from the european central bank was a game changer. in coming in and opening up the o.n.t n.t. program bought the sovereigns a little more time to work through their issues. i think the market is going to weigh in on investors' minds over the years to come. >> susie: all right. thank u so much, joe. joseph tanious from j.p. morgan. >> tom: an afternoon swoon in stock prices sent the major indices down, with traders pointing to little progress over avoiding the fiscal cliff for selling. less-than-encouragi
. >> susie: let me ask you about this, wall street has been so focused on the fiscal cliff situation, how important are these issues in europe for american investors? >> i think the issues in europe are important because they've been a pain in most investors' sides for the past couple of years. if you think about the end game in europe, which probably includes some type of fiscal integration, we realize it is going to take a long time. i believe that what you are seeing in europe is...
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Nov 27, 2012
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financial experts say american consumers could spend $200 billion less due to the so-called fiscal cliff. the potential financial crunch involves automatic spends cuts coinciding with tax increases. it will occur at the end of this year unless opponents in congress find a compromise. the white house on monday released an estimate upon middle income earners. a family of four earning 50 to $80,000 will see taxes rise by over $2,000 a year. the increase will prompt shoppers to tighten pursestrings by $2 billion. members of the democratic and republican parties oppose an income tax rise for the middle class. democrats want the wealthy to pay more while the republicans ar against such a hike. the parties start talk this week. now let's get a check on the markets. taking a look at the currency market. the euro reached a one-month high of 1.3 against the dollar and that's after the news that the euro zone ministers reached an agreement on the greek bail out. euro dollar quoted at 17.2992. now turning to stocks. tokyo shares are up slightly as bargain hunters are buying back recent decliners. ni
financial experts say american consumers could spend $200 billion less due to the so-called fiscal cliff. the potential financial crunch involves automatic spends cuts coinciding with tax increases. it will occur at the end of this year unless opponents in congress find a compromise. the white house on monday released an estimate upon middle income earners. a family of four earning 50 to $80,000 will see taxes rise by over $2,000 a year. the increase will prompt shoppers to tighten pursestrings...
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Sep 19, 2012
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. >> reporter: but many americans are hopeful congress will act to avoid the fiscal cliff. assuming that happens, the housing mark is expect to continue gaining momentum, helping the overall economy recovery. erika miller, "n.b.r.," new york. >> susie: joining us now with more analysis, richard dekaser, economist at wells fargo. so do you agree with that last comment and the reporter's package there about housing and the momentum that it has? >> oh, absolutely. i think we've been watching the housing market for three plus years now, and 2009, 10 and 11 were all best described as bouncing a long the bottom. we had some false hopes when rhaps tax incenves stimulated demand, but then they fall back afterwards. but what we're seeing now is very different. the past year, nine months in particular has seen sustained increases in home prices, home sales, construction, you know. you mentioned 10% growth in prices for existing homes year over year, there's all kinds of house price metrics and they all agree now for a change. they're all talking so far in year to date gains of 5 to 1
. >> reporter: but many americans are hopeful congress will act to avoid the fiscal cliff. assuming that happens, the housing mark is expect to continue gaining momentum, helping the overall economy recovery. erika miller, "n.b.r.," new york. >> susie: joining us now with more analysis, richard dekaser, economist at wells fargo. so do you agree with that last comment and the reporter's package there about housing and the momentum that it has? >> oh, absolutely. i...
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investors were fixated on the war of words in washington over the fiscal cliff, and shrugged off some encouraging news today about jobs. fewer americans filed for jobless benefits last week: new claims fell 12,000 to 350,000. but the labor department says the christmas holiday may have distorted the numbers, as some state offices were closed monday and tuesday and could not provide data. in the markets, the volatility index, or what's often called the "fear index," jumped to its highest level since last summer on those fiscal cliff worries. but trading was still light volume on the big board weighed in at 565 million shares. over on the nasdaq: over 1.3 billion shares traded hands. eight out of 10 sectors in the s&p were down. the weakest were materials and financials. tech stocks also lost ground. the declines punished large-cap tech stocks across the board, especially those believed to be more exposed to federal spending. cisco systems and oracle each fell at least 1%. while hewlett-packard, dell and netapp settled fractionally lower. on the consumer front, amazon says it had its bi
investors were fixated on the war of words in washington over the fiscal cliff, and shrugged off some encouraging news today about jobs. fewer americans filed for jobless benefits last week: new claims fell 12,000 to 350,000. but the labor department says the christmas holiday may have distorted the numbers, as some state offices were closed monday and tuesday and could not provide data. in the markets, the volatility index, or what's often called the "fear index," jumped to its...
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Nov 30, 2012
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. >>> americans are trying to avoid a winter of discontent by steering clear of the fiscal cliff. they are getting a boost from numbers that show they had a busy number. >> lots of numbers for you this morning. let's start with u.s. gdp. it's been revised upwards. commerce department officials say the economy for the july to september quarter dp eer grew a annualized 2.7%. exports were revised to mark an increase of 1.1%. earlier predictions headed for fall of 1.6%. housing investment was revised slightly down toward to 14.2% but maintain strong growth. >>> consu consumer spending was revised down 0.6 points to a growth rate of 1.4%. overall gdp mark significant growth but uncertainty remains. consumption is growing. there is the fiscal cliff to consider. >>> now let's turn to japan. the jobless rate in october remained flat compared to the previous month. the internal affairs ministry said unemployment stayed at 4 4.2%. officials at the labor ministry say the ratio of job vacancies to seekers declined. it says 80 positions were open for every 100 job seekers. the industrial outpu
. >>> americans are trying to avoid a winter of discontent by steering clear of the fiscal cliff. they are getting a boost from numbers that show they had a busy number. >> lots of numbers for you this morning. let's start with u.s. gdp. it's been revised upwards. commerce department officials say the economy for the july to september quarter dp eer grew a annualized 2.7%. exports were revised to mark an increase of 1.1%. earlier predictions headed for fall of 1.6%. housing...
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s if the fiscal cliff hits. the street.com's joe deaux joins us. one thing you may not be hearing late on election night is the m- word. mandate. it's tradition that the winners of an election claim to have the american people on their side. but if this election is as close as the polls predict, there will be no mandate for either side. darren gersh reports. >> reporter: unless all those polls are wrong and tomorrow brings a big surprise one way or another, this election will be the remembered as one of the closest in history. it could also end with both parties convinced the folks back home don't want them to compromise on key issues like taxes and fairness and the size of government. >> there is going to be enough room for both sides to claim that they have the mantle from the american public or that nobody does and i think that hurts the issues on the fiscal cliff. >> reporter: if the president prevails tomorrow, he will be one of the only incumbents to win re-election with fewer votes than he got in his first campaign for the white house. if ro
s if the fiscal cliff hits. the street.com's joe deaux joins us. one thing you may not be hearing late on election night is the m- word. mandate. it's tradition that the winners of an election claim to have the american people on their side. but if this election is as close as the polls predict, there will be no mandate for either side. darren gersh reports. >> reporter: unless all those polls are wrong and tomorrow brings a big surprise one way or another, this election will be the...
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Dec 15, 2012
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. >> reporter: because of all the fiscal cliff doom and gloom, retailers are worried. and perhaps they should be. after all americans think their personal finances will take a hit next year. and that might mean fewer gifts under the tree. >> we believe that the post black friday lull that we've seen in the last three weeks that consumers are spending at a very restrained rate simply because they don't have the money and there's a little bit of a fear factor out there. >> reporter: but, therere those who say it's wrong to credit the fiscal cliff for the lackluster holiday shopping season. more likely they think shoppers are playing a game of chicken with retailers, waiting for more stores to drop prices. if that's true, shoppers may be disappointed. >> will retailers react to the softness we've seen, the typical lull? i don't have a sense that that's happening. but, the industry is very fragmented. >> reporter: tomorrow is considered arucial holiday shopping day. here in manhattan the forecast calls for sunny skies and cool temperatures. perfect for a little spending. s
. >> reporter: because of all the fiscal cliff doom and gloom, retailers are worried. and perhaps they should be. after all americans think their personal finances will take a hit next year. and that might mean fewer gifts under the tree. >> we believe that the post black friday lull that we've seen in the last three weeks that consumers are spending at a very restrained rate simply because they don't have the money and there's a little bit of a fear factor out there. >>...
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Aug 28, 2012
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t say pretty big issue, how do you deal with the fiscal cliff. >> the answer is well he will raise taxes on the wealthiest americans and he has already cut a lot that is what he will talk about. >> there must be more things, what will he cut more. >> nothing. he will say obama care is goi toreduce the deficit. >> rose: you can make a case that all of us is responsible that we don't demand more and write more and say that at every breath. >> i wouldn't say that of you or anybody at this table. but maybe as a class, as a group for sure. but it is difficult to do. we don't have very much access to the candidates. the people who speak for them just don't engage. ands' hard for us to create forums to get the public to see the lack of answers in the age in which we live. >> the president's briefing with reporters the other day is the first one he had done in weeks. and that was because it was fortuitously timed between aiken and that scandal also one thing that would facilitate it is if we lived in a time when prominent politician was challenge candidates or presidential candidates of their ow
t say pretty big issue, how do you deal with the fiscal cliff. >> the answer is well he will raise taxes on the wealthiest americans and he has already cut a lot that is what he will talk about. >> there must be more things, what will he cut more. >> nothing. he will say obama care is goi toreduce the deficit. >> rose: you can make a case that all of us is responsible that we don't demand more and write more and say that at every breath. >> i wouldn't say that of...
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Oct 25, 2012
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you'ot t america -- we've got the american election, we've got the approaching fiscal cliff you've got china where it's worth remembering there is a full-flooded transition going on now, xi jinping is about to take over. he's taking over a country where i think the economy is slowing down but where most of the issues are really on the social and political side. i don't think china can stay in the same group that it's in. >> rose: and it's less to who will make up the leadership in this country. >> exactly. and then you have europe where europe is heading in one of two directions. it seems to be heading -- i would still bet in on towards a sort of me federal structure and one where angela merkel becomes an ever more powerful figure. and this is -- that's a complicated world for whoever becomes the next american president. but the more immediate problems in europe are to do with the euro zone. >> rose: you would add to that? >> i would simply add that i think you have all of that against the backdrop of a slowing global economy. you have to global economy growing at the slowest pace sinc
you'ot t america -- we've got the american election, we've got the approaching fiscal cliff you've got china where it's worth remembering there is a full-flooded transition going on now, xi jinping is about to take over. he's taking over a country where i think the economy is slowing down but where most of the issues are really on the social and political side. i don't think china can stay in the same group that it's in. >> rose: and it's less to who will make up the leadership in this...
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Nov 7, 2012
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cliff. we'll have all that and more tonight on nbr! election day is finally here, and americans across the country stood in long lines to vote for the next president of the united states. on wall street, stocks rallied ahead of the election results. there were no big headlines for investors to react to, but the presidential election is expected to lift a cloud of uncertainty that has been weighing on investors. by the close, the dow surged 133 points, the nasdaq rose 12, and the s&p added 11 pois. polls show that president obama and governor romney are in a tight race. ultimately, voters in a few key states will have the final say on who wins the white house. florida is one of those important battleground states. tom is in miami with more. tom. >> tom: susie, florida is the biggest swing state prize with the most electoral votes up for grabs. the economy, healthcare and immigration all are on display re wh flida'diverse and growing population. voters in south florida today packed their umbre
cliff. we'll have all that and more tonight on nbr! election day is finally here, and americans across the country stood in long lines to vote for the next president of the united states. on wall street, stocks rallied ahead of the election results. there were no big headlines for investors to react to, but the presidential election is expected to lift a cloud of uncertainty that has been weighing on investors. by the close, the dow surged 133 points, the nasdaq rose 12, and the s&p added...
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Jul 24, 2012
07/12
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cliff? what is driving the confidence factor in the american economy? >> i think there are two clouds over us, one is the impact o europe on gwth here d aund the world and concerns about how they manage this crisis and the second is a broader concern about whether the political institutions of the country are going to find a way to move again, to govern again, become unstuck and do some things that are good for the economy in the short run and long run. i think this concern about washington being stuck got much more scary last summer when we had this crisis over the debt limit because, you know, you had a large part of one party threatening to default, first time in history, deeply irresponsible, unacceptable, it caused a huge amount of damage to confidence and one of the reasons people look at the end of this year and the expiring tax cuts and the automatic spending cuts they look at that with more concern is not because they look at europe but because they wonder, given what happened last
cliff? what is driving the confidence factor in the american economy? >> i think there are two clouds over us, one is the impact o europe on gwth here d aund the world and concerns about how they manage this crisis and the second is a broader concern about whether the political institutions of the country are going to find a way to move again, to govern again, become unstuck and do some things that are good for the economy in the short run and long run. i think this concern about...
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Jan 1, 2013
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not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $250,000 and couples making more than $300,000. the estate tax would rise to 40%. emergency unemployment benefits would be extended for another year. the alternative minimum tax would be adjusted for inflation permanently. and, in an effort to boost the economy, small businesses would be eligible for another year of bonus depreciation when they buy equipment. the big hang up is what to do about the sequester-- $110 billion in automatic spending cuts in defense and domestic programs that begin at midnight. democrats want to postpone the cuts for a year or more. republicans for just a few months. >> i think there are some republicans who believe there is no other trigger that will force another full scale debate on spending. >> the president says taxincrea. cutting spenting next y
not let that hold up protecting americans from the tax hike that will take place in about 10 hours. >> reporter: the deal would raise the top tax rate for individuals making more than $400,000 and couples with more than $450,000 in income. itemized deductions would be limited for individuals making more than $250,000 and couples making more than $300,000. the estate tax would rise to 40%. emergency unemployment benefits would be extended for another year. the alternative minimum tax would...
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Jun 9, 2012
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. >> if i could add, that fiscal cliff is a big deal it adds a lot of uncertainty to american business. and at the end of this year we're going to have almost 20% increase in taxes and take away of deductions, this is very troubling to american factories, american entrepreneurs. job creators right now are pausing. and we need some clarity. we need washington to make some decisions in a positive way to improve our future economic climate. >> brown: drew greenblatt in baltimore o nariman we re rev-- behravesh thank you very much. >> woodruff: still to come on the newshour: the clashes between syrian troops and rebels forces; junk food and tooth problems in el salvador; shields and brooks; and the horse i'll have another out of the running at the belmont. but first, the other news of the day. here's kwame holman. >> holman: stocks on wall street rebounded to their best week of the year, in spite of continuing concerns over the global economy and how europe's woes will impact the u.s. the dow jones industrial average gained 93 points to close at 12,554. the nasdaq rose 27 points to close a
. >> if i could add, that fiscal cliff is a big deal it adds a lot of uncertainty to american business. and at the end of this year we're going to have almost 20% increase in taxes and take away of deductions, this is very troubling to american factories, american entrepreneurs. job creators right now are pausing. and we need some clarity. we need washington to make some decisions in a positive way to improve our future economic climate. >> brown: drew greenblatt in baltimore o...
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Dec 6, 2012
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more tough talk today from washington on the fiscal cliff: treasury secretary timothy geithner said he's willing to go over it if republicans don't agree to tax hikes for the wealthiest americans. president obama said basically the same thing but added one more hard line to the negotiations. >> if congress in any way suggests that they're going to tie negotiations to a debt ceiling vote and take us to the brink of default once again, as part of a budget negotiation-- which, by the way, we have never done in our history until we did it last year-- i will not play that game. >> late todathe president spoke by telephone with house speaker john boehner. no specifics on what they said to each other, but it was their first conversation in a week. eventually the two sides will get down to bargaining over specifics, including entitlements. one idea may be to change the way the government measures inflation. that may sound like a small change, but, as darren gersh reports, it could have a big impact. >> reporter: if the price of oranges goes up, consumers will buy apples and other cheaper foods.
more tough talk today from washington on the fiscal cliff: treasury secretary timothy geithner said he's willing to go over it if republicans don't agree to tax hikes for the wealthiest americans. president obama said basically the same thing but added one more hard line to the negotiations. >> if congress in any way suggests that they're going to tie negotiations to a debt ceiling vote and take us to the brink of default once again, as part of a budget negotiation-- which, by the way, we...
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Dec 18, 2012
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i'd say let the fiscal cliff take effect permanently. now, everybody's afraid to do that. they think the economy's too fragile. but if you look at what the congressional budget office has estimated. they say, "yes, we'd lose some growth for about half a year. but the medium and long term growth would actually be higher, because it would actually do exactly what everybody says they want to do, which is cut a lot out of the long-term deficits. and it would do so fairly by raising revenues a lot and cutting spending." what, how else are we going to cut the defense budget if we don't allow the sequester to take effect? both parties are pretty much into that. so i say let's just let th whole thing happen. if i was a member of the senate, i'd filibuster anything to get rid of it. >> bruce bartlett, yves smith, i'll see you on the cliff. thank you very much. >> thank you. >> listening to yves smith and bruce bartlett talk about the culture of washington, with insiders writing the rules to protect the privileged and the powerf, i codn'telp bu think of this small item in politico l
i'd say let the fiscal cliff take effect permanently. now, everybody's afraid to do that. they think the economy's too fragile. but if you look at what the congressional budget office has estimated. they say, "yes, we'd lose some growth for about half a year. but the medium and long term growth would actually be higher, because it would actually do exactly what everybody says they want to do, which is cut a lot out of the long-term deficits. and it would do so fairly by raising revenues a...
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Jan 29, 2013
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a small paragraph, innocent looking was inserted in the fiscal cliff bill a must-pass piece of legislation for all americans. and it benefits a single company, turns out to be amgen, maybe a few others, but this is an amgen-inspired plan that's going to cost medicare and taxpayers half a billion dollars. now, i want that money back. but there's a second reason that's even in many ways much more important. congress is not trusted as an institution. and when there is no trust for that institution, and then we take actions like this, where for the benefit of a company that's very powerful and well-connected, we charge taxpayers a half a billion llarsxtra, that means that that institutional disrespect increases, and it's going to make much more difficult the challenge we have to essentially make the tough decisions on all kinds of policies. >> you made a tough statement in washington in which you said actually congress is less popular than cockroaches and root canals because of actions like these. >> no, but that's true. i mean, that poll that came out, it actually says it all. people don't tr
a small paragraph, innocent looking was inserted in the fiscal cliff bill a must-pass piece of legislation for all americans. and it benefits a single company, turns out to be amgen, maybe a few others, but this is an amgen-inspired plan that's going to cost medicare and taxpayers half a billion dollars. now, i want that money back. but there's a second reason that's even in many ways much more important. congress is not trusted as an institution. and when there is no trust for that...
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Feb 27, 2013
02/13
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cliff in december. congress has not come up with any measures to deal with deficits. and unless concessions are made, americans will have to bear the brunt of $85 billion in budget cuts. let's take a look at the markets now. first getting a check of ocks. tokyo stock prices are trading lower today. market watchers say investors remain concerned about italy's fiscal restructuring. meanwhile, sentiment is somewhat supported by tuesday's u.s. stock market gains as housing data exceeded market expectations. the nikkei, though, at the moment down over .8% at 11,302. that is down .8% from tuesday's close. now let's take a look at the currency markets, see what's happening there. now, the dollar is trading just slightly higher against the yen. sources say market players a buying the dollar due to an optimistic view on the u.s. economic outlook, and that's after reassuring comments from u.s. fed chief bernanke as well as positive housing data. now, the dollar/yen is trading at 91.93-95. meanwhile, the euro/gene
cliff in december. congress has not come up with any measures to deal with deficits. and unless concessions are made, americans will have to bear the brunt of $85 billion in budget cuts. let's take a look at the markets now. first getting a check of ocks. tokyo stock prices are trading lower today. market watchers say investors remain concerned about italy's fiscal restructuring. meanwhile, sentiment is somewhat supported by tuesday's u.s. stock market gains as housing data exceeded market...
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Dec 8, 2012
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. >> susie: and house speaker boehner accuses president obama of wasting another week in the fiscal cliff negotiations. >> tom: that and more tonight on "n.b.r."! >> susie: the job market is proving to be surprisingly resilient. american employers hired 146,000 workers in november, much more than expected. and the unemployment rate fell to 7.7%, the lowest level since december of 2008. as erika miller reports, that wasn't the only surprise in today's report. >> reporter: almost no one on wall street saw this good news coming. there was every reason to think hiring would be weak last month. after all, many parts of the east coast are still recovering from devastation caused by superstorm sandy. >> i think the most likely explanation here is sandy's impact was significant but was so short-lived that it didn't extend to the sample period of the employment report which was the week that covered november 12. >> reporter: hiring was also supposed to be weak due to worries about the fiscal cliff. with $600 billion in automatic tax hikes and government spending cuts set to start next yer, why are
. >> susie: and house speaker boehner accuses president obama of wasting another week in the fiscal cliff negotiations. >> tom: that and more tonight on "n.b.r."! >> susie: the job market is proving to be surprisingly resilient. american employers hired 146,000 workers in november, much more than expected. and the unemployment rate fell to 7.7%, the lowest level since december of 2008. as erika miller reports, that wasn't the only surprise in today's report. >>...
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Nov 14, 2012
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economy of the fiscal cliff. expectations remain mixed for fancier retailers, but some experts predict the debate in washington over taxes will simply delay holiday purchases made by wealthy americans. >> i would expect that holiday spend won't get impacted as much. some of the larger wealth items, tax planning, estate planning, that's where their focus will be. itmay fer some of it bause they've been preoccupied. >> reporter: tom jacobsen tracks consumer spending behavior and believes the fiscal cliff will impact shopping patterns. he says in an uncertain economy retailers will need to pay close attention to pricing. >> as the confidence erodes, you might need more discounting to sell a luxury good. but that extra discounting won't take away from that good-feeling luxurious. >> reporter: according to a study out today, half of u.s. consumers still plan to buy make a small luxury purchase in the next six months. of those, 53% want specialty food or drinks, 48% are in the mood for luxury clothing, and 48% are look
economy of the fiscal cliff. expectations remain mixed for fancier retailers, but some experts predict the debate in washington over taxes will simply delay holiday purchases made by wealthy americans. >> i would expect that holiday spend won't get impacted as much. some of the larger wealth items, tax planning, estate planning, that's where their focus will be. itmay fer some of it bause they've been preoccupied. >> reporter: tom jacobsen tracks consumer spending behavior and...
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Nov 9, 2012
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but there's one big wildcard that may affect spending this year, the fiscal cliff. >> we have a month and a half for coness to work this through. and if they can make some kind of compromise, so at least you know what your incremental taxes will be next year, and it's not as bad as you might imagine, you will spend this year. >> reporter: sandy may not hurt holiday sales, but the storm has clearly had a short term regional impact. along the east coast, customers have been buying more needs and less wants, although that's expected to change as the holiday season approaches. erika miller, nbr, new york. >> tom: tomorrow on nbr, ur friday "market monitor" guest says the economic recovery will keep moving forward and take stocks higher. he's russell investments' erik ristuben. and we'll check in on how people are feeling about the economy with the latest consumer confidence number. finally tonight, a run on bed socks, as cash-strapped britons try to keep old man winter at bay as gas and heating costs soar. bed socks are just what you think they are-- socks designed to be worn in bed. sock
but there's one big wildcard that may affect spending this year, the fiscal cliff. >> we have a month and a half for coness to work this through. and if they can make some kind of compromise, so at least you know what your incremental taxes will be next year, and it's not as bad as you might imagine, you will spend this year. >> reporter: sandy may not hurt holiday sales, but the storm has clearly had a short term regional impact. along the east coast, customers have been buying...
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Jan 4, 2013
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. >> brown: still to come on the "newshour" tonight: weighing the fiscal cliff deal; charges in the india gang rape case; the country's crumbling sewage system and an expanding american reach for al jazeera. but first, the other news of the day. here's hari sreenivasan. >> sreenivasan: for another member of congress, today marked an especially momentous return to work. republican senator mark kirk of illinois suffered a stroke 10 months ago, and had to learn how to walk again. today, he climbed the 45 steps of the capitol, with vice president biden and west virginia senator joe manchin on hand for support. secretary of state hillary clinton will return to work at the state department sometime next week. clinton was discharged yesterday from a new york hospital, where she had been treated for a blood clot in her head. a state department spokeswoman said clinton is now resting at her home in new york, but wants to get back to washington. >> some of the senior staff who spoke to her half an hour ago said that she's sounding >> some of the senior staff who spoke to her half an hour ago said t
. >> brown: still to come on the "newshour" tonight: weighing the fiscal cliff deal; charges in the india gang rape case; the country's crumbling sewage system and an expanding american reach for al jazeera. but first, the other news of the day. here's hari sreenivasan. >> sreenivasan: for another member of congress, today marked an especially momentous return to work. republican senator mark kirk of illinois suffered a stroke 10 months ago, and had to learn how to walk...
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Dec 21, 2012
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people generally feel that if we do go over the fiscal cliff's edge or if there is some sort of big crash in the stock market baseden on this uncertain they the republicans will take the blame for that. again, we keep coming back to this word "dangerous." it's risky politically in lots of different ways and the democrats are sort of waiting to say well, let's see what republicans do to one another tonight. >> brown: what are you hearing about a potential next meeting. we have the holiday coming, right? >> the president is planning to go to hawaii with his family. t family is going to heading there soon and he isn't getting on a plane any time soon. he could stay all through weekend. if possible he could wait through monday and eric cantor threatened that today. he said "we might stay here all weekend." the senate is intending to come back next thursday and deal with it then. >> the critical point here is will john baner be willing to bring up a bill in the house that's a compromise that may require more democratic votes than republican votes? that is anathema to him, but it may be t
people generally feel that if we do go over the fiscal cliff's edge or if there is some sort of big crash in the stock market baseden on this uncertain they the republicans will take the blame for that. again, we keep coming back to this word "dangerous." it's risky politically in lots of different ways and the democrats are sort of waiting to say well, let's see what republicans do to one another tonight. >> brown: what are you hearing about a potential next meeting. we have...
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Aug 23, 2012
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the congressional budget office said going over the so-called fiscal cliff could have dire consequences. unless congress acts by the end of the year, americans can expect more than $300 billion in tax increases as bush-era tax cuts expire. and nearly $200 billion in across-the-board spending cuts congress agreed to last year in exchange for raising the debt ceiling. the c.b.o. said those changes would reduce the deficit substantially. but the economy would also shrink by nearly 3% during the first half of the year and unemployment could top 9%. we look more closely at this now, with maya macguineas, president of the committee for a responsible federal budget. and alice rivlin, a founding director of the c.b.o. she's now with the brookings institution. welcome to you both. alice rivlin, what's the most important thing pushing us toward this cliff, this rhetorical but real cliff? >> well, the most important thing pushing us is that congress enact these cuts in spending, and the lapse in the tax cuts, and they will take place unless the congress gets itself together to do something about i
the congressional budget office said going over the so-called fiscal cliff could have dire consequences. unless congress acts by the end of the year, americans can expect more than $300 billion in tax increases as bush-era tax cuts expire. and nearly $200 billion in across-the-board spending cuts congress agreed to last year in exchange for raising the debt ceiling. the c.b.o. said those changes would reduce the deficit substantially. but the economy would also shrink by nearly 3% during the...
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Dec 21, 2012
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cliff and even over it. but here's what plan "b" could do. it could put more pressure on the senate to respond to house republicans, perhaps pushing negotiations forward, though senate democrats promised they would not take up plan "b" under any circumstance. >> we are not going to do anything to protect the tea- party driven leadership in the house. it's not what the american people wan it's not what they voted for this november, and we are not going to do it. >> reporter: the white house and the speaker are actually quite close to a substantial agreement to avoid the fiscal cliff. but the speaker is trying to strengthen his standing both with his own members by holding a vote on plan "b" and by giving republicans in the house an alternative in case talks with the white house fail. >> what people have to understand is the shortest distance between "a" and "b" in washington is never a straight line. politics requires a zigzag. >> reporter: to most of us, this zigzagging feels more like going n circles. buthe
cliff and even over it. but here's what plan "b" could do. it could put more pressure on the senate to respond to house republicans, perhaps pushing negotiations forward, though senate democrats promised they would not take up plan "b" under any circumstance. >> we are not going to do anything to protect the tea- party driven leadership in the house. it's not what the american people wan it's not what they voted for this november, and we are not going to do it....
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Nov 9, 2012
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>> well, i think the big threat, judy, is that if we go off if fiscal cliff we will see negative g.d.p. in the first quarter. and when you get into a recession, american business, rldwe business, bins to make plans on how to reduce its operating costs. and that ultimately results in fewer jobs. so fewer jobs coupled with a negative g.d.p. ultimately put the economy in the wrong direction. and that's not good for anyone. >> woodruff: at the same time, i'm sure you know there's a body of thought out there that says some of the concern about the fiscal cliff is exaggerated. even if it didn't happen by january 1 that there would still be time to get things worked out that in other words this timetable is not so urgent, really. >> well, i think that's misplaced. american businesses are already planning for 2013. we take our operating budget to our board on november 29 and we're already gaining our investments and pulling back unemployment until we figure out what the macroeconomic environment is going to do next year. so the sooner we know that, the more we can get about hiring people. so t
>> well, i think the big threat, judy, is that if we go off if fiscal cliff we will see negative g.d.p. in the first quarter. and when you get into a recession, american business, rldwe business, bins to make plans on how to reduce its operating costs. and that ultimately results in fewer jobs. so fewer jobs coupled with a negative g.d.p. ultimately put the economy in the wrong direction. and that's not good for anyone. >> woodruff: at the same time, i'm sure you know there's a body...
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Dec 12, 2012
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some experts think the overhang of the fiscal cliff will likely dampen investor enthusiasm. erika miller, nbr, new york. >> tom: the latest economic statistics the federal reserve can consider is the october trade balance, with american importing a record amount of stuff from china. that increased our trade deficit to $42.2 billion. u.s. exports fell 3.6%, the biggest drop in almost four years. imports also fell, down 2.1% to the lowe in month n ll street,he dow gained 78, the nasdaq rose 44, the s& up nine. >> susie: our next guest says the fed's stimulus policies have been good for the u.s. economy and the markets. he's mike holland, chairman of his money management firm, holland and company. >> susie: mike, you heard erica's report. which do you think is more important for investors, fed policy action tor the fiscal cliff talks? >> right now, susie, the fiscal cliff talks are clearly the item dejure for the stock market. i think most people expect exactly what eric miller was talking about from the fed. and bern bueno ben bernanke hasn transparent and telling people well
some experts think the overhang of the fiscal cliff will likely dampen investor enthusiasm. erika miller, nbr, new york. >> tom: the latest economic statistics the federal reserve can consider is the october trade balance, with american importing a record amount of stuff from china. that increased our trade deficit to $42.2 billion. u.s. exports fell 3.6%, the biggest drop in almost four years. imports also fell, down 2.1% to the lowe in month n ll street,he dow gained 78, the nasdaq rose...
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Dec 7, 2012
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. >> woodruff: with 25 days left until the year-end fiscal cliff, and just 19 days until christmas, president obama warned lawmakers today not to add to the holiday pressures americans already feel, by letting the political stalemate drag on. but he also again insisted there would be no deal unless tax rates went up on the wealthy. >> the closer it gets to the brink, the more stressed we're going to be. >> woodruff: president obama made the short trip to northern virginia today to underline his plan to avert the fiscal cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement can be reached, but again drew a hard line for republicans in congress. >> everybody's is going to have to share in some sacrifice. but it starts with folks who are in the best position to sacrifice. who are in the best position to step up . just to be clear i'm not going to sign any package that somehow prevents the top rate from going up, the top 2% from going up. >> woodruff: the president phoned house speaker john boehner yesterday, their first dire
. >> woodruff: with 25 days left until the year-end fiscal cliff, and just 19 days until christmas, president obama warned lawmakers today not to add to the holiday pressures americans already feel, by letting the political stalemate drag on. but he also again insisted there would be no deal unless tax rates went up on the wealthy. >> the closer it gets to the brink, the more stressed we're going to be. >> woodruff: president obama made the short trip to northern virginia...
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Jan 5, 2013
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>> what was interesting, just to take it back to what we saw with the fiscal cliff. where a lot of the negotiation happened behind closed doors and boehner said i want it to be open. what happens it comes in to every day americans living rooms, every single day through social media. all of a sudden american people are part that have conversation they're going to force their congressional members. whether they're republican or democrats to come to agreements. create an opportunity for the american people to be more engaged in their politics, it's a lot harder nor other parties to sequester and hold bills when they're unchecked. >> you know, i think definitely having more women in congress is going to make eight lot prettier. [laughter] a lot easier to look at and watch c-span. but to be -- i think remains to be seen but way things are going right now, i don't see it will make vast difference in way things are handled now. few women really just rise up lead the charge it can make a great bit of difference. hope. ly be more efficient. >> until we have representative gov
>> what was interesting, just to take it back to what we saw with the fiscal cliff. where a lot of the negotiation happened behind closed doors and boehner said i want it to be open. what happens it comes in to every day americans living rooms, every single day through social media. all of a sudden american people are part that have conversation they're going to force their congressional members. whether they're republican or democrats to come to agreements. create an opportunity for the...
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Oct 23, 2012
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. >> tom: while neither candidates mentioned the fiscal cliff in last night's debate, they did talk a little about the automatic spending cuts piece of the fiscal cliff. >> and i will not cut our military budget by a trillion dolrs, which a combinaon of the budt cuts the president has, as well as the sequestration cuts. that, in my view, is making... is making our future less certain and less secure. >> first of all, the sequester is not something that i've proposed; it is something that congress has proposed. it will not happen. the budget that we are talking about is not reducing our military spending, it is maintaining it. >> tom: darren gersh is our washington, d.c., bureau chief. >> well, i have to tell you, the defense industry was really excited about this. the ceo of the aerospace industry association had a conference with reporters and said she left out of her chair with joy when she heard this noise. they're very excite body t. the white house was spending time walking this back saying that basically the president didn't say anything new. the sequester was never intended act
. >> tom: while neither candidates mentioned the fiscal cliff in last night's debate, they did talk a little about the automatic spending cuts piece of the fiscal cliff. >> and i will not cut our military budget by a trillion dolrs, which a combinaon of the budt cuts the president has, as well as the sequestration cuts. that, in my view, is making... is making our future less certain and less secure. >> first of all, the sequester is not something that i've proposed; it is...
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Sep 3, 2012
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cliff will affect them. sylvia hall, "n.b.r.," washington. >> darren: as we just heard, going over the fiscal cliff will cost jobs. but we do have to get a handle on our debt. so how do we strike the right balance between jobs and the economy and the need for fiscal restraint? again we turn to simpson and bowles. >> i think that's a pretty easy answer.ç leme jt kind of ame first. what our commission recommended is that we have $4 trillion of deficit reduction. and we didn't make that $4 trillion number up just because the number four bus passed us on the street. $4 trillion is not the maximum amount we need to reduce the deficit. it's not the ideal. it's the minimum amount you need to reduce the deficit to stabilize the size of the debt and get it on a downward path as a percent of g.d.p. and we got a majority of repuicans on our commission, a majority of democrats on the commission to vote for it. and several people ask us, well, gosh, if we take these steps now, then we do run the risk of accelerating th
cliff will affect them. sylvia hall, "n.b.r.," washington. >> darren: as we just heard, going over the fiscal cliff will cost jobs. but we do have to get a handle on our debt. so how do we strike the right balance between jobs and the economy and the need for fiscal restraint? again we turn to simpson and bowles. >> i think that's a pretty easy answer.ç leme jt kind of ame first. what our commission recommended is that we have $4 trillion of deficit reduction. and we...
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Oct 17, 2012
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we're hearing all this stuff about binders full of women, but the fiscal cliff is the biggest single immediate economic issue facing us. but i think i found out today why we may not be hearing so much about it. a poll came out and said that 88% of american voters blame both parties for the mess that we're in. they think they haven't done their jobs and basically they've created this washington mess so, both candidates i think have no incentive to talk about it. >> tom: we know they're going to talk about it after the election because they have to. darren gersh in washington. >> thanks, tom. >> susie: anyone planning to travel around the holidays, listen up, this may be the year to hop on a plane. ruben ramirez reports on how turbulence for the airline industry may be good for consumers looking for a deal on tickets. >> reporter: the third quarter may be as good as it gets for the airline industry this year. analysts like ray niedl, see revenues of $2 billion, that may sound like a lot, but consider that just a few months ago the expectation was $3 billion in sales. two biheadnds: the
we're hearing all this stuff about binders full of women, but the fiscal cliff is the biggest single immediate economic issue facing us. but i think i found out today why we may not be hearing so much about it. a poll came out and said that 88% of american voters blame both parties for the mess that we're in. they think they haven't done their jobs and basically they've created this washington mess so, both candidates i think have no incentive to talk about it. >> tom: we know they're...
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Jan 8, 2013
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after several rounds of negotiations, congress averted the fiscal cliff by passing a last-minute deal on january 1. the compromise allowed tax rates to rise only on affluent americans while temporarily suspending across-the-board spending cuts. many questions remain over how congress will achieve the proper balance of cuts and revenue. house democratic leaders insist revenues will be needed. the deal also did not tackle the impending debt ceiling, a debate that will likely consume congress in the months ahead. joining me from washington, david leonhardt, he is the washington bureau chief of the "new york times." from chicago, austan goolsbee, a professor at the university of chicago booth school of business and previously chairman of the president's council of economic advisors. i'm pleased to have both of them back on this program. david, let me begin with you and tell me exactly where you think we are having that january 1 up to the last minute deal. what is the order of business for the executive branch and the legislative branch to do something to develop some sense of predictabil
after several rounds of negotiations, congress averted the fiscal cliff by passing a last-minute deal on january 1. the compromise allowed tax rates to rise only on affluent americans while temporarily suspending across-the-board spending cuts. many questions remain over how congress will achieve the proper balance of cuts and revenue. house democratic leaders insist revenues will be needed. the deal also did not tackle the impending debt ceiling, a debate that will likely consume congress in...
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Jan 2, 2013
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cliff deal that the senate voted on last night? >> i haven't been part of those discussions. like most americans, i find it very, very frustrating to watch it. it's not what we expected. i can tell you that. the spending is a problem. when i campaigned last year-and- a-half all across the state of nebraska, what i heard from people was their concern about spending. that's not addressed in this bill. i thank the leader. i thank the vice president for coming together and putting forth part of the solution. in helping with tax relief for many americans. but that didn't go far enough. we have to address spending if we're really going to talk about the problem. >> woodruff: spending was a part of the discussion but the republicans were not able to agree with the spending cuts that were offered by the white house. where did everything go wrong in our opinion? >> i think you can also say the white house didn't agree with the spending cuts that were offered by the republicans. again we need to work together. we have to quit saying it's the
cliff deal that the senate voted on last night? >> i haven't been part of those discussions. like most americans, i find it very, very frustrating to watch it. it's not what we expected. i can tell you that. the spending is a problem. when i campaigned last year-and- a-half all across the state of nebraska, what i heard from people was their concern about spending. that's not addressed in this bill. i thank the leader. i thank the vice president for coming together and putting forth part...